Reports have identified potential buyers for TikTok, including Steven Mnuchin, Frank McCourt, and Kevin O'Leary of Shark Tank fame. In a Fox News interview, O'Leary clarified that Trump is acting as an advisor on the matter, not a potential buyer.

Under the deal being negotiated by the White House, TikTok’s China-based owner, ByteDance, would retain a stake in the company, but data collection and software updates would be overseen by Oracle, which already provides the foundation of TikTok’s Web infrastructure, one of the sources told Reuters.